Manila: Japanese shipbuilders, according to a study by Nomura Research Institute, are the likeliest investors in the Philippines’ expanding ship repair industry.
The Nomura study entitled “accelerating FDIs in the Philippines Shipbuilding Industry,” sees Japan followed by Korea as the most likely source of future investments. Already Tsuneishi of Japan and Korea’s Hanjin Heavy have big outlays in the archipelago.
The current administration in Manila has targeted shipyards as a big growth area for the national economy and a host of financial incentives including tax breaks have been introduced to encourage investment from overseas. [26/11/12]